Alan Solarsh- What is Deliberate Practice in Forex Trading? Losing money is always frustrating, whether it's due to unexpected market events or a poor trade idea. Even worse, when it happens over and over again, it eventually affects your confidence and approach to trading.
According to Alan Solarsh Review, some traders become so afraid of losing more money that they start to avoid trading their best trading setups. This may be how some traders can make up for their losses by throwing their trading plan out the window and jumping on every trade opportunity. Successful traders study the mistakes they make and the market conditions and behaviour that caused the losses, rather than reacting negatively to losses. Instead of reacting negatively, a better attitude would be one of actively learning from those losses. By becoming accustomed to reviewing both winning and losing trades and actively adjusting one's system to minimize losses, one soon learns market patterns and can minimize losses. A deliberate practice process is a skill that's used by professionals in every performance field to improve! Professionals of all types participate in this process to reach their goals. Let me break deliberate practice up into three main stages: the act itself, feedback, and incorporation. The Act The act, as its name suggests, refers to your attempted performance. It doesn't matter how successful it was; what matters is that you gave it your best shot. In forex, the act is taking demo or live trades. Feedback Remember to never watch yourself when you trade. Instead of just going through the motions, you have to take a third-person perspective, record everything you can of your performance, and analyse what went right and what went wrong. Incorporation After you have adequately recorded what you have done, you now need to act to change the things that need to be changed. By actively doing this every day, you will be able to accelerate competence and develop your skills much more quickly. When you practice trading every day, not only does it become easier, but the effect of recording, reviewing, and making adjustments speeds up the learning process. Alan Solarsh says that getting a jump start is not hard at all. You already have all the tools you need!